Quote from: casper77 on December 23, 2015, 06:09:28 AM

Quote from: BARR_Official on December 15, 2015, 01:13:07 PM

The voting is over for January, and the winners are Bunnycoin and Unitus as a Wild Card.

is exchange rate already known for BUN ?

No, we're still trying to see how much we can buy at what price, and how much money we'll be able to put on buy orders.

We'd like to shoot for 5 litoshis as the target price for BUN, but we can't guarantee that yet.

In the future, when we have more buywalls for BARR on the NXT Asset Exchange, we'll be able to set an exchange rate and let everyone else buy the altcoins. Then they'll be able to trade for BARR, and they can dump as much BARR as they want, and burning the altcoins will be profitable for them as well as liquid.

For now we can't do that, because we'd just be making up imaginary prices that we can't support. It would be all talk; we would just say "BUN is worth 5 litoshis" when nobody is even paying 1 litoshi. That would be like an empty promise and a false way to determine BARR's value. So we don't want to set a target price unless we have a chance of moving the market to that price and making it reality.

When BARR gets more users, we won't have to buy all the coins ourselves. People who want BARR will show up and move the market, because they want to buy those coins and burn them for BARR. And they will be profitable doing that up to the target price, or higher if the price of BARR goes up.

We have seen some good results this month with ACP. We raised the price to 600, which was the target price and the equivalent value that we're exchanging ACP for BARR. But now the price of ACP is much lower, and people have the opportunity to buy ACP cheaper and still trade it for the same amount of BARR.

It looks like something similar might happen with BunnyCoin - there's no way to know what will happen, but it might happen similarly to what happened with ACP. So, for example, if we set a target of 5 litoshis per BUN, and then people end up selling more than we can buy at that price, then anyone will be able to get a good deal on BARR by trading BUN that they bought at 3 litoshis. Because BARR will still be redeeming it at the higher rate. And then there is no telling what will happen to the price of Litecoin or Dogecoin, making BUN even cheaper on those markets.

To give an example of the numbers, if the target price was 5 litoshis, with BARR @ .00016btc, then the exchange rate would be set at 400,000 BUN for 1 BARR.